Majedie Asset Management Ltd Boosts Position in Oceaneering International (OII)

Majedie Asset Management Ltd boosted its stake in Oceaneering International (NYSE:OII) by 38.2% during the 1st quarter, HoldingsChannel reports. The fund owned 2,054,214 shares of the oil and gas company’s stock after acquiring an additional 568,311 shares during the quarter. Oceaneering International comprises 2.3% of Majedie Asset Management Ltd’s investment portfolio, making the stock its 11th largest position. Majedie Asset Management Ltd’s holdings in Oceaneering International were worth $32,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Oceaneering International by 2.3% in the 4th quarter. BlackRock Inc. now owns 11,614,045 shares of the oil and gas company’s stock valued at $140,529,000 after buying an additional 262,078 shares during the last quarter. Vanguard Group Inc. increased its stake in Oceaneering International by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 9,008,693 shares of the oil and gas company’s stock valued at $248,639,000 after buying an additional 116,111 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Oceaneering International by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,934,281 shares of the oil and gas company’s stock valued at $96,005,000 after buying an additional 110,317 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Oceaneering International by 9.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,137,940 shares of the oil and gas company’s stock valued at $37,969,000 after buying an additional 260,054 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Oceaneering International by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,087,935 shares of the oil and gas company’s stock worth $37,364,000 after purchasing an additional 41,774 shares during the last quarter.

Several research firms have recently weighed in on OII. Seaport Global Securities upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, May 7th. Barclays restated a “buy” rating and set a $21.00 price objective on shares of Oceaneering International in a research note on Sunday, May 5th. Cowen restated a “market perform” rating and set a $19.00 price objective (up from $16.00) on shares of Oceaneering International in a research note on Friday, May 3rd. ValuEngine upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.71.

OII traded up $0.28 on Wednesday, reaching $18.65. The company had a trading volume of 11,270 shares, compared to its average volume of 1,209,747. Oceaneering International has a fifty-two week low of $10.74 and a fifty-two week high of $28.62. The firm has a market cap of $1.75 billion, a P/E ratio of -25.99 and a beta of 2.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.03 and a current ratio of 2.44.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Monday, April 29th. The oil and gas company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.21. Oceaneering International had a negative net margin of 9.46% and a negative return on equity of 3.64%. The business had revenue of $493.89 million for the quarter, compared to analyst estimates of $466.33 million. During the same quarter in the prior year, the business earned ($0.41) EPS. Oceaneering International’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities analysts forecast that Oceaneering International will post -0.75 earnings per share for the current year.

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Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

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